Post by Logan on Jul 5, 2016 21:12:17 GMT -6
At least one group is tossing out a “Told you so,” following reports that Ohio is facing a $1.1 billion revenue problem in the next two-year state budget.
“The Buckeye Institute knew this was very likely to happen,” said Greg Lawson, senior policy analyst for the conservative think tank.
Ohio is facing a revenue shortage because the federal government is putting an end to the state's application of the sales tax (state and local) to Medicaid managed care organizations. The tax has allowed the state to bring in hundreds of millions of dollars per year in federal matching dollars, while also allowing counties and transit authorities to benefit through their piggyback sales taxes.
Counties and transit authorities, including COTA, stand to lose about $400 million over the next two-year budget.
Read more: www.dispatch.com/content/blogs/the-daily-briefing/2016/07/7-5-16-buckeye-predict.html
“The Buckeye Institute knew this was very likely to happen,” said Greg Lawson, senior policy analyst for the conservative think tank.
Ohio is facing a revenue shortage because the federal government is putting an end to the state's application of the sales tax (state and local) to Medicaid managed care organizations. The tax has allowed the state to bring in hundreds of millions of dollars per year in federal matching dollars, while also allowing counties and transit authorities to benefit through their piggyback sales taxes.
Counties and transit authorities, including COTA, stand to lose about $400 million over the next two-year budget.
Read more: www.dispatch.com/content/blogs/the-daily-briefing/2016/07/7-5-16-buckeye-predict.html